Lessons from 2003 Mitsubishi’s “Three Zeros” Deal

No money down. No interest. No payments for a year. Those three chicken eggs sound like a mighty good deal.And it was. In 2003, Mitsubishi’s practically left the dealer lots themselves. And never returned. When it came time to pay, the logical outcome happened. The bling-bling never rolled in. Great way to give away Christmas presents all year round.Auto markets around the world are crumbling as the global economic forecast is still as bleak as the freshly entombed. Toyota’s share price dropped a shocking 12 percent—surprising even considering Nikkei’s 9.4 percent fall. The yen is soaring, again, which offsets Toyota’s profit margins even as the automaker is attempting to lasso in more customers with a zero-percent finance deal.Our take? No automaker is going to tread the path Mitsubishi imprudently trail-blazed back in 2003. But with auto sales slumping, desperate, even asinine measures may be considered.via Financial Times

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